Anna Maria Island, FL. Real Estate Newsletter October, 2019

Canal front with Bay view

3/2.5 incredible space under house too.

Sales on Anna Maria Island for September 2019 ran well above sales for September 2018 for the first month this year.  Sales for September 2019 for Anna Maria City, Holmes Beach and Bradenton Beach were 22 (SF-11, Con-10, Dup-1 & Lot-0) up 38% above September 2018 at 16 (SF-8, Con-6, Dup-2 & Lot-0).  Sales through September 30, 2019 Y-T-D were 286 (SF-180, Con-85, Dup-15 & Lot-6) down only 15% below September 30, 2018 Y-T-D at 335 (SF-194, Con-109, Dup-23 & lot-9) compared to the last two months year to date when we were down 15% so you can see the year to date difference between 2019 and 2018 has been leveling off.   The inventory has dropped down again this month and has been below 300 for eighteen of the last twenty-two months.  Inventory is currently at 279 (SF-154, Con-88, Dup-20 & Lot-17).  Inventory for the previous twenty-two months were 282, 292, 296, 293, 305, 334, 338, 319, 291, 257, 249, 231, 214, 223, 240, 254, 267, 297, 297, 310, 290, 298.  Again the lower sales this year-to-date over last year-to-date isn’t because of low demand but primarily because the inventory continues to be low and buyers are not finding what they want to buy so they wait until it comes on the market.  Sales are still healthy for this market.  Average sales for the last 15 years which includes 2004 and 2005 (the peak sales years) were 340.  If you exclude the two peak years average sales for the last 13 years were 325.  Based on the current trajectory we should end the year somewhere between those two numbers.

There is something for everybody on Frank & Al’s Great Buy’s list this month.  If you’re looking for a duplex with a pool, steps to the beach, use one side and rent the other or rent both sides, then          3604 Gulf Dr. is for you.  If you’re looking for a 180 degree Bimini Bayfront view and an ideal boater’s home, then 543 67th St. HB  is the one for you.  Ready to be taken to the next level, this 2,909 sq. ft.  4bedroom/4bath Bimini Bayfront is the ultimate in boating paradise, deep water minutes to Tampa Bay or the intercostal; there is a MIL suite on ground level.  If you want a great rental… another great property is 129 52nd St. HB.  west of Gulf Drive and a block from the beach with 4bedrooms/4 baths.  If you want to be almost on the Gulf then look at 103_47TH_ST. HB  a remodeled beach cottage with new pool and spa, 3bedrooms/3.5baths, one house from the beach and peaks of the Gulf.  Call me for more information on these or other real estate opportunities.  We can put you on your own automatic search for properties with your specific criteria.          

To summarize the Anna Maria Island Real Estate Market for the first nine months of 2019 sales continue to run slower than the previous 5 years and Pended properties (properties under contract) jumped up this month again from 36 to 48 (SF-36, Con-11, Dup-0 & Lot-1) well above last two months which bodes well for a strong closing of the year.  Distressed properties continue to be non-existent with one bank owned distressed property for sale on the island and none in the last year.  The distribution of the single family properties currently for sale on AMI hasn’t changed much in the last year with only 4% or (6) <$500K, 17% or (26) 500K-750K, 18% or (28) between $750K and $1 million, 34% or (52) between $1 million and $2 million and 27% or (42) over $2 million.  The distribution for Condos currently for sale is 60% or (53) <$500K, 25% or (22) $500K-$750K, 6% or (5) $750K – $1 million and 9% or (8) >$1 million.  You can see that again 79% of the single-family prices are over $750K and 61% are over $1 million while 60% of the condos were below $500K.  This distribution of single family prices and condo prices haven’t changed much and has continued to remain about the same for over a year.  Of the current inventory of 154 single family homes the lowest priced property is $359,000 (seaside gardens again) and the highest is still $5,750,000 an old gulf front cottage on a one-acre lot (the cottage is about $50K of the value the rest is the lot).  Of the current inventory of 88 condos the lowest priced is $214,500 (Bay View Terrace) and the highest $2,569,000 (still Vista Grande).  The highs and lows for single family and condos haven’t changed for several months.  Of the single-family properties currently for sale on AMI, the average list price is $1,633,868 and the median list price is $1,495,000 and for condos the average list price is $563,399 and median list price is $437,000.

Longboat Key current inventory is 309 (SF- 105, Con- 176, Dup- 2 & Lot- 26) higher than the last two months at 274, 289 but lower than the last eight months at 359, 386, 404, 442, 461, 455, 452, 314. Of the current inventory of 105 single family homes the average list price is $2,167,281 and the median list price is $1,299,000.  The lowest priced single-family home on Longboat Key is $294,000 (2br/2bath in Spanish Main) and the highest is $22,500,000 (A 19,300 sq. ft. home on 1.18 acre on the Gulf) same as last month.   For the 176 condos for sale the average and median list prices respectively are $838,465 & $583,850 with the lowest $160,000 (a 2BR/1bath La Playa 699 sq. ft. unit) and the highest $7,495,000 (a 4BR/3.5 bath 4,912 sq. ft. gulf front unit at L’Ambiance).

Have a great day and keep those calls and e-mails coming!  We love hearing from you and look forward to seeing you on the island……Alan, Frank & Lynn

See http://www.AnnaMariaLuxuryRealEstate.com NEWSLETTER for detailed charts and facts for Anna Maria Island Real Estate for sale.
941-232-2216 ALAN@AlanGalletto.com
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